Sunsure Energy secures INR ~129 crore in long-term debt financing from Tata Capital and Aditya Birla Finance for its solar plant in Augasi, Uttar Pradesh

Whats Happening:

Sunsure Energy has secured INR 128.82 crore in long-term debt financing from Tata Capital and Aditya Birla Finance Limited (ABFL) for its 49 MWp open-access solar plant in Augasi, Uttar Pradesh. This financing will support Sunsure's 145 MWp portfolio of commissioned solar open-access projects in the state, reinforcing its market leadership in India's renewable energy sector.

Key Moves:

• Sunsure Energy secures INR 128.82 crore debt financing for Augasi solar plant

• Financing provided jointly by Tata Capital and Aditya Birla Finance Limited

• Funds to support 145 MWp portfolio of solar projects in Uttar Pradesh

By The Numbers:

• 49 MWp open-access solar plant in Augasi, Uttar Pradesh

• 72 million units of green power to be generated annually

• 1.3 million metric tons of CO2e to be offset over plant's lifetime

Key Quotes:

• "This partnership with Tata Capital and Aditya Birla Finance signifies their confidence in Sunsure Energy's vision and capabilities," - Shashank Sharma, Founder, Chairman and CEO, Sunsure Energy

• "We are excited to build on our collaboration with Sunsure Energy through this second round of financing," - Manish Chourasia, Chief Operating Officer – Corporate and Cleantech, Tata Capital Ltd

• "We are excited to partner with Sunsure Energy and support them to develop the crucial solar plant in Augasi," - Arnab Basu, Head – Wholesale Solutions, ABFL

Bottom Line:

Sunsure Energy's successful debt financing for its Augasi solar plant demonstrates growing investor confidence in India's renewable energy sector. This investment will not only expand Sunsure's solar portfolio but also contribute significantly to Uttar Pradesh's clean energy goals, offsetting 1.3 million metric tons of CO2e over its lifetime and providing affordable green energy to the state's industries.

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